TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume - Here's Why

Shares of TXO Partners LP (NYSE:TXO - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 676,218 shares traded hands during mid-day trading, an increase of 382% from the previous session's volume of 140,363 shares.The stock last traded at $15.68 and had previously closed at $15.48.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus started coverage on TXO Partners in a report on Wednesday, April 23rd. They issued a "buy" rating and a $20.00 price target on the stock.

TXO Partners Trading Up 0.4%

The firm has a market cap of $659.40 million, a P/E ratio of 37.95 and a beta of 0.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day moving average of $16.00 and a 200-day moving average of $17.75.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.12). The company had revenue of $84.33 million during the quarter, compared to the consensus estimate of $82.00 million. TXO Partners had a return on equity of 3.89% and a net margin of 5.22%. Equities research analysts forecast that TXO Partners LP will post 1.02 earnings per share for the current year.

TXO Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 15.31%. The ex-dividend date was Friday, May 16th. TXO Partners's dividend payout ratio (DPR) is 580.95%.

Insider Buying and Selling

In other TXO Partners news, Director Bob R. Simpson bought 2,250,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, with a total value of $33,750,000.00. Following the purchase, the director now directly owns 6,750,000 shares of the company's stock, valued at approximately $101,250,000. The trade was a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gary D. Simpson sold 31,517 shares of TXO Partners stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the sale, the chief executive officer now directly owns 408,053 shares in the company, valued at $7,785,651.24. The trade was a 7.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 3,473,000 shares of company stock valued at $52,095,540.

Institutional Trading of TXO Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. raised its stake in shares of TXO Partners by 0.3% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company's stock worth $4,915,000 after buying an additional 821 shares in the last quarter. Total Wealth Planning & Management Inc. raised its stake in shares of TXO Partners by 3.6% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 93,334 shares of the company's stock worth $1,788,000 after buying an additional 3,274 shares in the last quarter. CWM LLC bought a new stake in shares of TXO Partners in the 1st quarter worth $77,000. Sei Investments Co. raised its stake in shares of TXO Partners by 4.2% in the 4th quarter. Sei Investments Co. now owns 123,094 shares of the company's stock worth $2,073,000 after buying an additional 5,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of TXO Partners by 11.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock worth $1,063,000 after buying an additional 5,500 shares in the last quarter. Institutional investors own 27.44% of the company's stock.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.